In a report released today, Charles Duncan from Cantor Fitzgerald reiterated a Buy rating on Biohaven Pharmaceutical Holding Co Ltd (NYSE: BHVN), with a price target of $57. The company’s shares closed yesterday at $36.05.
Duncan commented:
“. We recently hosted Biohaven for several investor meetings and came away with enhanced conviction in our nuanced perspectives on value creation over the next 12 months and beyond. Based on our recent due diligence, we believe a market inefficiency exists on the potential for rimegepant to usher- in a new treatment paradigm for not only acute, but also preventative treatment of migraine, irrespective if it’s first or second to market within the oral anti-CGRP class. Additionally, our investor conversations suggest that the troriluzole-led rest- of-pipeline (ROP) remains underappreciated, but this may change with increasingly visible clinical execution and 2H19 data.”
According to TipRanks.com, Duncan is a 2-star analyst with an average return of 0.8% and a 42.9% success rate. Duncan covers the Healthcare sector, focusing on stocks such as KalVista Pharmaceuticals Inc, ACADIA Pharmaceuticals Inc, and Corcept Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Biohaven Pharmaceutical Holding Co Ltd with a $52 average price target, a 44.2% upside from current levels. In a report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $47 price target.
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Based on Biohaven Pharmaceutical Holding Co Ltd’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $39.27 million. In comparison, last year the company had a GAAP net loss of $42.92 million.
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Biohaven Pharmaceutical Holding Co. Ltd. is a clinical-stage biopharmaceutical company, which engages in the research and development of late-stage product candidates targeting neurological diseases, including rare disorders.
